This Was the Average Social Security Benefit in 1994, and Here’s What It Is Now
An important aspect of Social Security benefits is the monthly payouts increase they receive in most years to (somewhat) keep up with inflation. This is called the Social Security cost-of-living adjustment (COLA). Over the past 30 years, Social Security benefits have increased significantly. At the end of 1994, the average monthly Social Security benefit was […]
5 Big Costco Holiday Deals Happening Now
Image source: Getty Images A top strategy for saving money at Costco? Start your holiday shopping now. Costco’s already on the scene with holiday deals that’ll make your bank account breathe a little easier. And we could all use a few financial breaks when the holiday season rolls around. So grab a cart, toss in […]
4 Tricks for Scoring Extra Cash Back on Your Holiday Purchases
Image source: Upsplash/The Motley Fool The holiday shopping season is now in full swing, which means that in the coming weeks, you may find yourself hitting the stores and racking up massive bills in the course of celebrating to the fullest. For this reason, it’s a good idea to try to earn as much cash […]
Kohl’s Black Friday Deals Start Sunday. Here Are 4 Deals You Don’t Want to Miss
Image source: Getty Images The days around Thanksgiving are a popular time to buy holiday gifts. Many retailers promote Black Friday deals to help you keep more money in your checking account. Kohl’s has already released its Black Friday flier, which is full of major discounts. Most Black Friday deals are available from Nov. 24 […]
Here’s the Maximum Possible Social Security Benefit — and How Many People Actually Get It
The maximum possible Social Security benefit for someone retiring in 2024 is nearly $4,900 per month, but this requires a perfect combination of factors that most Americans don’t have. In this video, Certified Financial Planner® Matt Frankel discusses the maximum, how to get it, and exactly how many people max out Social Security in the […]
4 Surprising Perks of a Great Credit Score You May Not Know About
Image source: The Motley Fool/Upsplash If your credit score is between 670 and 739, it’s considered to be a good score. FICO® Scores between 740 and 800 are very good and anything above 800 is classified as excellent. Most people know good credit can help with things like getting an affordable mortgage or paying a […]
3 Problems With Medicare Advantage Plans Retirees Should Know About
Once you turn 65, you’re entitled to health coverage through Medicare. But it’s up to you as to whether you want to stick with original Medicare (Parts A and B plus a Part D drug plan) or sign up for a Medicare Advantage plan. Medicare Advantage plans are offered by private insurers and work similarly […]
Social Security Benefits Get a 2.5% Cost-of-Living Adjustment (COLA) in 2025. Here’s How Much the Average Benefit Will Actually Increase.
The reason Social Security benefits are eligible for an automatic cost-of-living adjustment (COLA) each year is that without an inflation-based boost, seniors would be guaranteed to lose buying power from one year to the next. This doesn’t mean that Social Security’s COLAs are always on the generous side, though. Case in point: In 2025, Social […]
